The 'Life Cycle Costing' considers costs: MCQ with Answer and Explanation

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The 'Life Cycle Costing' considers costs:

A. Only fixed costs

B. From product design to disposal

C. Only during manufacturing

D. Only variable costs

Answer: Option B

Solution (By JKExamLibrary)

Life cycle costing tracks costs from research and development to after-sales service and disposal.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

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Goods distributed as free samples are debited to:

A. Purchases Account

B. Drawings Account

C. Sales Account

D. Advertisement Account

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Correct Answer: Option D

Explanation:
Free samples are treated as advertising expense.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

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The 'Taxpayer's Charter' under Income Tax assures:

A. No scrutiny

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Correct Answer: Option B

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Budgetary control system involves:

A. Only preparing cash budget

B. Setting long-term objectives

C. Comparing actual figures with budgeted figures

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Correct Answer: Option C

Explanation:
Budgetary control is the establishment of budgets relating to responsibilities of executives to the requirements of a policy and the continuous comparison of actual with budgeted results.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

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